StockNews.com Begins Coverage on Beacon Roofing Supply (NASDAQ:BECN)

Research analysts at StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a note issued to investors on Wednesday. The firm set a “sell” rating on the stock.

Several other equities analysts have also issued reports on the company. BMO Capital Markets boosted their price target on Beacon Roofing Supply from $125.00 to $136.00 and gave the company an “outperform” rating in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price objective on Beacon Roofing Supply from $115.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Zelman & Associates cut Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 16th. Stephens reaffirmed an “equal weight” rating and issued a $103.00 target price on shares of Beacon Roofing Supply in a research report on Tuesday, November 19th. Finally, Royal Bank of Canada raised their target price on Beacon Roofing Supply from $113.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Beacon Roofing Supply has a consensus rating of “Moderate Buy” and a consensus price target of $121.11.

Beacon Roofing Supply Stock Performance

Shares of BECN opened at $120.50 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.91 and a debt-to-equity ratio of 1.60. The company’s fifty day moving average is $109.34 and its 200-day moving average is $98.37. The firm has a market cap of $7.46 billion, a price-to-earnings ratio of 20.60 and a beta of 1.62. Beacon Roofing Supply has a 12 month low of $77.54 and a 12 month high of $121.42.

Insider Buying and Selling at Beacon Roofing Supply

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $110.00, for a total value of $286,000.00. Following the sale, the insider now directly owns 6,531 shares in the company, valued at approximately $718,410. This trade represents a 28.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Beacon Roofing Supply

Large investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in Beacon Roofing Supply by 17.6% during the third quarter. FMR LLC now owns 6,435,880 shares of the company’s stock worth $556,253,000 after acquiring an additional 963,633 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Beacon Roofing Supply by 1,449.0% during the 3rd quarter. Janus Henderson Group PLC now owns 615,593 shares of the company’s stock valued at $53,205,000 after purchasing an additional 575,852 shares in the last quarter. Citigroup Inc. increased its stake in Beacon Roofing Supply by 1,192.1% during the 3rd quarter. Citigroup Inc. now owns 513,692 shares of the company’s stock worth $44,398,000 after purchasing an additional 473,937 shares in the last quarter. 140 Summer Partners LP bought a new stake in Beacon Roofing Supply during the 3rd quarter worth approximately $29,343,000. Finally, Raymond James Financial Inc. acquired a new stake in Beacon Roofing Supply during the 4th quarter worth approximately $24,162,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.